Online Forex Trading

Choosing the Right Forex Broker – Forex Brokers UK Reviews

Forex brokers or forex brokerage firms act as an intermediary that facilitates order routing between the buyers and sellers. With rapid development of forex markets, brokers have transformed into full service agencies. Forex brokers offer vast number of innovative features and services instead of just acting as the dealers. Forex brokers fall under two categories – small and medium brokers and large and heavyweights like financial institutions or banks.

Right Forex Broker

If you are a potential investor in the forex currency trading then your first step in the right direction is to choose a reliable forex broker. There are many important factors that need proper due-diligence in order to select professional forex broker. It is indeed a daunting task for the beginners.

This article intends to provide a comparison between forex brokers operating in and around UK. Comparison is centered on UK because UK plays a very vital role in the entire global forex markets and due to its dominance in the global forex markets, majority of the forex brokers provide their services in UK.

Table given below shows a comparison of forex brokers based on the most important parameters viz. leverage ratio, pip spread, and minimum deposit. We have selected about a dozen plus leading names from small/medium/large forex brokers who are registered under NFA (National Futures Association, USA) or CFTC (Commodities Futures Trading Commission, USA) or FSA (Financial Services Authority, UK) or any other global regulatory authority.

Broker MaximumLeverage PipSpread Minimum deposit forAccount opening DemoAccount
Alpari 100:1 Minimum 2 200$ Yes
IbfX 200:1 2-3 250$ Yes
Crown 200:1 1 300$ Yes
Forex Club 100:1 3-5 10$ Yes
Forex.Com 100:1 1-2 250$ Yes
Easy Forex 200:1 2-7 100$ No
Forex yard 200:1 3-5 100$ Yes
eToro 200:1 2-6 50$ Yes
MF Global 40:1 0-3 25,000$ Yes
IG Markets 700:1 2 fixed 0 Yes
FXA 100:1 2 500$ Yes
dbFX.com 100:1 2-4 5000$ Yes
GFS 200:1 3-5 500$ Yes
ODLS.Com 100:1 2 2000$ Yes
GFT 400:1 1 250$ Yes
Saxo Bank 100:1 2-3 10,000$ Yes
FXCM 200:1 1 300$ Yes
GCI Financial 200:1 2-5 50$ Yes

In addition to the above three parameters you should also visit the individual websites to learn more about the following points.

  • Functionality and features of forex trading platform
  • Types of orders
  • Charting, technical analysis and other analytical tools
  • Access to fundamental and technical research
  • Live global news
  • Customer support
  • Special features, promotions, cash back, bonus
  • Overall reputation, reliability, resources, R&D and geographical reach
  • All in one or multi-segment trading – choice of products such as Forex, CFDs, Commodities, Options, Spread-bets etc.

NOTE: It is likely that the information given in the above table might have changed and hence we do not guarantee the correctness or accuracy about this information.

Summing Up:

Despite the control and regulation of regulatory authorities such as NFA and CFTC in USA and FSA in UK, forex scams frequently appear in the international media. Regulatory authorities constantly introduce stricter compliances like increased net worth, capital, trading infrastructure, NDD (no dealing desks), STP (Straight through processing) for safeguarding the interests of retails investors. Forex investors must pay careful attention to various aspects before entrusting their hard-earned money to any forex broker.

Disclaimer: We do not recommend any specific forex brokers. We do not get any commissions from any of the forex brokers. Depending upon the investor profile, risk taking capacities and proficiency in forex trading, readers are advised to gather all the necessary information. Readers should take an unbiased and well-informed decision before signing up with any of the forex brokers mentioned elsewhere in this article. Investment in forex is a high-risk investment that has a potential to generate huge losses.